Appointment / Resignation
Sangeeta Singh appointed as chairman of CBDT
Sangeeta Singh, a 1986 batch Indian Revenue Service (IRS) officer has been given additional charge of Chairman, Central Board of Direct Taxes (CBDT), after incumbent JB Mohapatra retired as the head of the direct taxes administration body on April 30. Currently, the board has four members including Sangeeta Singh.
Singh is currently holding charge of Audit and Judicial. She is also holding additional charge of Income Tax and Revenue and Tax Payers services.
Other appointments:
Anuja Sarangi, a 1985 batch officer is holding charge of Member, Administration, and Faceless Scheme, Nitin Gupta is handling the charge of Investigation and Pragya Sahay Saksena is handling the charge of member legislation and systems.
National news:
IRDAI authorise insurance companies for investment of 25% to 30% of assets in BFSI
The Insurance Regulatory and Development Authority of India (IRDAI) increased insurers’ maximum investment limit in banking, financial services, and insurance (BFSI) companies from 25% to 30% of their assets.
The threshold for financial and insurance actions will now be 30 percent of investment assets for all insurers, according to the most recent modifications to IRDAI’s investment Regulations, 2016.
This will include investments in home finance companies and infrastructure finance companies.
Banking & Finance
HDFC Life joined the United Nations as a signatory
HDFC Life has joined the UN-backed Principles for Responsible Investment (PRI), demonstrating its commitment to long-term value creation and sustainable growth. HDFC Life is dedicated to the Responsible Investment principles (RI).
The Group feels that it is its moral duty as an active asset manager for policyholders who have entrusted their funds to HDFC Life to deliver maximum risk adjusted returns in the long run.
This goal can be achieved by using the RI approach to investment decisions, which comprises core stewardship principles and consideration of environmental, social, and governance (ESG) considerations in addition to financial parameters and prospects.
This approach is in line with HDFC Life’s vision of long-term growth. The company presently has about Rs. 2 lakh crores in assets under management.
Banking & Finance
Under Project WAVE, Indian Bank has launched a pre-approved personal loan
The public sector bank, The Indian Bank has presented a pre-approved personal loan product under Project WAVE.
The Chennai-based bank announced the World of Advance Virtual Experience, WAVE digital transformation project in January 2022 to introduce its first digital product, the Pre-Approved Personal Loan (PAPL), which intends to give consumers with rapid loan disbursements.
National News
Complete State-wise List of Chief Minister and Governor 2022
The list of state-wise chief ministers and the governor is important for the students who are preparing for competitive exams like SBI PO, SSC, banking, etc.
In The table below we have included all the states and their governor and chief ministers.
We have also included the chief minister and governors of union territories.
Further in the article, you can also check out the selection process and powers of the chief minister and governor of India.
State News
CM Nitish Kumar inaugurated nation’s first ethanol plant in Purnia, Bihar
Bihar’s Chief Minister Nitish Kumar has inaugurated India’s first ethanol plant in Purnia district, Bihar.
he plant has been set up by Eastern India Biofuels Private Limited at a cost of Rs 105 crores.
Bihar came up with an ethanol production promotion policy in the first half of 2021. It is the country’s first grain-based ethanol plant
Sports
Kerala beat West Bengal to lift their seventh Santosh Trophy title
Kerala beat West Bengal 5-4 in the penalty shootout to win the 75th Santosh Trophy 2022 at the Manjeri Stadium in Malappuram, Kerala.
The teams were level 1-1 after extra time in a pulsating encounter in which plenty of chances were created at both ends with the finishing being astray.
This is Kerala’s third win in a Santosh Trophy tournament on home soil. Earlier, they had won two editions in Kochi, in 1973-74 and 1992-93. Kerala captain Jijo Joseph, who was adjudged the player of the match for a commanding performance in the middle of the park.
State News
Haryana government to build stadium in Neeraj Chopra’s hometown
Haryana Chief Minister Manohar Lal Khattar has announced that a stadium will be built in Olympic gold-medallist Neeraj Chopra’s native village in Panipat.
A stadium would be built in Neeraj Chopra’s village for Rs 10 crore. Last year, Chopra became the first Indian to win a gold medal in the Olympic track and field.
Khelo India Youth Games-2021 will be organised by the Haryana Government from June 4 to June 13.
Haryana has become a sports hub and players from the state have brought laurels at various national and international level sporting events. Haryana is also giving the highest prize money to its players.
Business / Economics
GST revenue of April 2022: All-time high Rs 1.68 lakh crores
Goods and services tax (GST) collections hit an all-time high of Rs 1.68 lakh crore in April, indicating strong economic activity despite multiple headwinds and better tax compliance.
The April number is up 20% from the year-earlier and Rs 25,000 crore more than the previous highest of Rs 1.42 lakh crore in March this year.
In April 2022, 10.6 million GST returns were filed compared with 9.2 million in the year earlier. Of the total, central GST amounted to Rs 33,159 crores, state GST was Rs 41,793 crore, integrated GST was Rs 81,939 crore while Rs 36,705 crore was collected on the import of goods. Cess collection was Rs 10,649 crore, including Rs 857 crore on import of goods.
The government has settled Rs 33,423 crore toward central GST and Rs 26,962 crore toward state GST from the integrated GST.
Books
Rasheed Kidwai authored a book titled “Leaders, Politicians, Citizens”
“Leaders, Politicians, Citizens: Fifty Figures Who Influenced India’s Politics” authored by author-journalist Rasheed Kidwai compiles stories of 50 personalities who influenced India’s political landscape.
The book is published by Hachette India. The foreword of the book is written by Shashi Tharoor, Member of Parliament (Lok Sabha).
The 50 personalities featured in the book include Teji Bachchan, Phoolan Devi, Indira Gandhi, Rajiv Gandhi, Jayalalithaa, APJ Abdul Kalam, and Karunanidhi among others.
Traversing ideologies and bringing into focus the human facet of governments, Leaders, Politicians, and Citizens presents a compelling history of Indian democracy and provides riveting insights into the evolution of its political culture.
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